Last year Cucumber Company reported a cost of goods sold of $30,000. Inventories decreased by $7,000 during the year, and accounts payable decreased by $13,000. The company uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be: a. $23,000 b. $24,000 c. $36,000 d. $43,000
Last year Cucumber Company reported a cost of goods sold of $30,000. Inventories decreased by $7,000 during the year, and accounts payable decreased by $13,000. The company uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be: a. $23,000 b. $24,000 c. $36,000 d. $43,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Last year Cucumber Company reported a cost of goods sold of $30,000. Inventories decreased by $7,000 during the year, and accounts payable decreased by $13,000. The company uses the direct method to determine the net cash provided by operating activities on the statement of
a. $23,000
b. $24,000
c. $36,000
d. $43,000
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